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A short course of lectures
«The mortgage answer book»

What is private mortgage insurance (PMI)?What can I do if I cannot afford my monthly mortgage payment?What is a piggyback loan?Is it worth talking to a financial counselor if I am facing foreclosure?How do I choose between an annuity and a reverse mortgage?How do I find out if I am eligible for a VA mortgage?What is a loan-to-value ratio?What is a home keeper mortgage?How can I best understand adjustable rate mortgages?What is the other side of this exercise?What is a promissory note?How does the property itself figure into the mortgage formula?What makes a manufactured home eligible for financing?What factors do I need to consider before deciding whether or not to get a hybrid mortgage?What is a start rate?What is the term of a mortgage, and how do I choose the right one for me?What are government loans?Should I try to buy down my interest rate?What if I am paid on commission?What is interest, and how are interest rates determined?What is a flexible payment adjustable rate mortgage?What are income-to-debt ratios?What is a reverse mortgage?Do I have to have credit counseling before I can get a reverse mortgage?InterestWhat are back points?Will I know if my loan is sold?What other information do I need before buying a house?Can I avoid having to get a jumbo loan?Is poor credit the real problem with subprime mortgages?Can a seller finance the total purchase price?Why should I refinance?What kind of credit card user am I?How can I avoid foreclosure?What are the disadvantages of a hybrid mortgage?What are the advantages and disadvantages of judicial foreclosure?What changes in the industry affect prepayment today?What is an annuity?How does the foreclosure process work?Appendix B. Home Ownership and Equity Protection ActReverse MortgagesWhat should a seller know about purchase money mortgages?What is my credit history?Can I prequalify myself for a loan using the Internet?Can VA loans only be used to buy a home?First-Time BuyersHow will an appraisal affect my down payment?How do interest rates work?What are the financial requirements for qualifying for a reverse mortgage?Should I consolidate my debts?What are the criteria for a home equity conversion mortgage?What is my credit score?What is an adjustable rate mortgage?The Mortgage IndustryAdjustable Rate MortgagesShould I consider an adjustable rate mortgage?Hard Money MortgagesHow do I use the mortgage comparison worksheet?What does it mean to prequalify for a loan?Reverse Mortgage Comparison WorksheetUnderwritingHybrid MortgagesWhat about a gift letter?Who buys these loans?What distinguishes FHA-insured reverse mortgages from non-FHA-insured reverse mortgages?What are the advantages of a hybrid mortgage?What is an assumable mortgage?How do I benefit from this new knowledge?Where can I get more information on financing a manufactured home?The Effect of Inflation on MortgagesPrepaymentJumbo LoansWhat is the Home Ownership and Equity Protection Act, and what is its purpose?What is a home equity conversion mortgage?What are some temporary solutions for not being able to pay my mortgage?What are balloon payment mortgages?What is a graduated payment mortgage?Are there scams a seller financing the purchase price should be aware of?Mortgages on Manufactured HomesAppendix A. Amortization TablesWhat is a subprime mortgage?Is a longer- or shorter-term loan better for me?Why do we have inflation?Why is it necessary to write down a budget?What is the major advantage of an FHA loan?Can a real estate agent prequalify me for a loan?How will a down payment affect a mortgage loan by the seller?What are the major FHA programs?What is a SingleFile mortgage?What is a jumbo loan?How do I find my credit history?What is a hard money mortgage?What is the mortgage industry?What is a conforming loan?Facing ForeclosureWhat are the advantages and disadvantages of interest-only loans?What are the advantages of a home equity line of credit?How does a reverse mortgage work?How do lenders use my credit score?RefinancingWhy are junior mortgages riskier for lenders?Terms of the MortgageCan I prequalify for a loan through a lender?What is a manufactured home?What if I have more permanent problems that prevent me from making my monthly mortgage payments?Can I use a gift to pay for my down payment?Were the 2007-08 housing problems caused by hybrids?What are the differences between A, B, and C loans?What is a subprime loan?What are biweekly payment plans?Fixed Rate LoansWhy would a primary lender sell a loan?How do I know which index is right for me?What are some foreclosure scams I should be aware of?What is a bridge loan?What is a deed of trust?Risk and ProfitWhat is foreclosure?Can I sell the purchase money mortgage?How do I find the right lender or mortgage broker?What if I am self-employed?What does the secondary market mean to me?What are the advantages and disadvantages of a fixed rate loan?What is an index?What is underwriting and how does it affect my loan?Junior MortgagesSubprime MortgagesWhat about bonuses?How much can be borrowed for a reverse mortgage?How do I make a budget?What are the disadvantages of an FHA loan?How do I compare fixed rate and adjustable rate loans?What is recasting and how will it affect my mortgage?What if I am not ready to get a mortgage right now?What is the difference between being prequalified for a loan and being preapproved for a loan?Why should I not just ignore the problem if I cannot afford to make my monthly mortgage payments?What are interest-extra loans?What are points and buydowns?What is a margin?What else should I consider before I refinance?How much can I afford to pay for a home?What is a home equity line of credit?How do I lock in the interest rate on my loan?Do I really need to know more about prepayment?What are the disadvantages of a home equity line of credit?Once I am prequalified or preapproved for a loan, is my prequalification or preapproval amount the price of the property that I should really be shopping for?The Right Loan for YouWhat is a VA loan?Why would I get a home equity loan?What is involved in getting a home equity loan?How much can I borrow with a reverse mortgage?What payment plans are available, and how do I choose the right one?Are there different types of reverse mortgages?What are home equity loans?How can I improve my credit score?How can I improve my income-to-debt ratio?What are the property requirements for obtaining a reverse mortgage?How many mortgages can I have on one property?Payment PlansWhen should I consider bankruptcy?Prequalifying for a LoanWhen do I want a fixed interest rate loan?How does a home equity line of credit work?Appendix C. The Real Estate Settlement Procedures ActWhat is nonjudicial foreclosure?Why do so many people have bad credit histories?What is an FHA loan?What is predatory lending, and how can I avoid falling victim to it?What else should I know about fixed rate loans?How does inflation affect mortgages?What is a junior mortgage?Why is the interest rate always a little higher for fixed rate loans?What is next?What is the importance of knowing my spending habits?Which indexes are most often used?Can I use a gift from a stranger to make my down payment?Home Equity LoansGovernment LoansHow do I refinance?What is a hybrid mortgage?What is a purchase money mortgage?What is a pick-a-payment loan?What is a prepayment penalty?About the AuthorPurchase Money MortgagesCan a seller refuse to sell to people using FHA or VA loans?Are there future problems that may arise?
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